Late VAT registration penalty

[pp123]

Hello all,
Was hoping for a little advice please.
I've just noticed that our partnership has £81,053 VAT taxable turnover over the last 12 months, and we haven't registered for VAT. I was under the impression that sales to non-UK customers did not count, but have just read that isn't the case, so now it looks like we will be late. Can anyone tell me if we will realistically have a penalty for late registration, given the small amount that we are over by? We have also had a few sales where the items have never been dispatched (and refunded of course), so do these count? Also, I think our first return would be a refund because of reclamation of import VAT on existing stock.
One last thing, the form says "When did the business first expect to go over the VAT registration threshold in the next 30 days?"... well actually that is today, because of my ignorance of the non-UK sales issue. Can I get some thoughts please from people more experienced? Thanks!

 

[StevensOnln1]

When did you first go over the VAT threshold? Refunds should be deducted from total sales when calculating your turnover. If you only went over for the first time in April then you would need to register for VAT during May, with your VAT registration beginning from 1st June.

 

[pp123]

Ah, I didn't realise that refunds were deducted.. in that case we still have a few grand spare. Thanks very much!

 

[StevensOnln1]

If you're close to the registration threshold, make sure that you check carefully after the end of each month. Once you do go over, you'll have 30 days from the end of that month to register, with registration beginning the 1st day of the following month.

 

[lesvatadvice]

The penalty is based on the net VAT due from the date you should have notified, to the date you did notify. The calculation is complex, but the penalty will be reduced by the fact that you notified HMRC 'unprompted.' Also, do provide a full explanation, and calculation. I have heard of some penalties being reduced to zero!